American Economist & Nobel laureate Robert E Lucas Jr Passed Away

American Economist & Nobel laureate Robert E Lucas Jr Passed Away

Daily Current Affairs / American Economist & Nobel laureate Robert E Lucas Jr Passed Away

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Category : Obituaries Published on: May 18 2023

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Noted American economist and Nobel laureate, Robert Emerson Lucas Jr. (Robert Lucas), professor of Economics at the University of Chicago (since 1975), passed away at the age of 85.
He won the Nobel Prize in Economic Science – officially known as “The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel” in 1995 for his work on rational expectations and the efficacy of government intervention in the economy.
Robert Lucas received the Nobel Prize in Economics in 1995 for having developed and applied the hypothesis of rational expectations, thereby transforming macroeconomic analysis and deepening our understanding of economic policy.
He was elected to the American Academy of Arts and Sciences in 1980, the National Academy of Sciences in 1981, and the American Philosophical Society in 1997.

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